Blue Apron reports major loss despite customer growth

Blue Apron Earnings What to Watch

Boasting a price of $6.24, Blue Apron (NYSE:APRN) traded -17.63% lower on the day. Analysts were actually holding out for slightly less, but it's still awful growth for a company that grew its top line by 42% in the first quarter and 133% for all of 2016.

Blue Apron (NYSE:APRN) had the ideal opportunity to prove the growing number of naysayers wrong by blowing them away with its first quarterly report as a public company on Thursday.and it just didn't happen. The mean target of $10.00 should be compared with the price when the stock was languishing around $5.70 a share.

The challenge for Blue Apron has been that as the meal-kit preparer boosts sales, it has been spending more to acquire and then retain its new customers. They set a "buy" rating and a $12.00 target price on the stock. The analyst recommendations from a month ago are 0 Buy, 0 Strong Buy, 0 Sell, 1 Hold and 0. Its new post-IPO range is $5.03 to $11.00. The company has market cap of $1000.00 million. The company has recorded a 50-day moving average of $7.18 and a 200-day moving average of $7.18. It also comes in above analysts' revenue estimate of $235.81 million for the second quarter of the year.

The company reported an 18% increase in revenue to $238.1 million in the three months ended in June, beating a Factset consensus of $236 million. The company's revenue was up 17.9% compared to the same quarter previous year. Orders climbed to 4,033 from 3,399.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. The legal version of this piece can be accessed at DekaBank Deutsche Girozentrale acquired a new position in shares of Blue Apron Holdings during the second quarter worth approximately $220,000.

Blue Apron Holdings, Inc is a holding company. The Firm is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. Salzberg said the company's proprietary products - like the beef from its farms - set the company apart from other retailers.

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